Radiant Globaltech Berhad (KLSE:RGTECH) entered into a conditional share purchase agreement to acquire the remaining 20% stake in Grand-Flo Spritvest Sdn. Bhd. from Jejaka 7 Connection Sdn Bhd for approximately MYR 12.6 million on May 2, 2023. Consideration will be satisfied entirely by cash in two tranches one 50% i.e. MYR 6.3 million is on completion and the other 50% on deferred payment after 3 months of completion of the fulfillment of conditions precedent in the SPA. The Purchase Consideration will be fully funded through the Group's internally generated funds, bank borrowings and/or any other fund raising options, the exact source and/or proportion of which will be determined at a later date. In FYE 2022, GFS revenue is MYR 65.95 million, and profit after tax is MYR 7.04 million. The transaction is subject to Radiant Globaltech Berhad shareholders and regulatory approval. The estimated completion date is the 2nd quarter of 2023. As of June 23, 2023, The shareholders of Radiant Globaltech has approved the deal on June 23, 2023.

UOB Kay Hian Securities (M) Sdn Bhd. acted financial advisor to Radiant Globaltech Berhad. Strategic Capital Advisory Sdn. Bhd. acted as fairness provider and Tricor Investor & Issuing House Services Sdn Bhd acted as registrar for Radiant Globaltech Berhad.

Radiant Globaltech Berhad (KLSE:RGTECH) completed the acquisition of remaining 20% stake in Grand-Flo Spritvest Sdn. Bhd. from Jejaka 7 Connection Sdn Bhd on June 30, 2023.